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UCO Bank board approves fund raising proposals

Posted On: 2019-01-17 17:17:12

The Board of Directors of UCO Bank approved fund raising proposals at its meeting held on 17th January 2019, subject to necessary statutory / regulatory approvals.

The board approved issue of equity shares on preferential basis to Goverment of India against capital infusion of Rs. 3076 Crore in accordance with SEBI (ICDR) Regulations, 2018.

The board approves raising of equity capital fund upto Rs.1000 Crore through Qualified Institutions Placement in accordance with SEBI (ICDR) Regulations, 2018.

The board approved issue of upto 20,00,00,000 (Twenty Crore) equity shares under Employee Stock Purchase Scheme in accordance with SEBI (Share Based Employee Benefits) Regulations, 2014.

The board also approved raising of Tier- II Capital upto Rs.500 Crore.

Shares of UCO BANK was last trading in BSE at Rs.20.8 as compared to the previous close of Rs. 20.65. The total number of shares traded during the day was 104296 in over 295 trades.

The stock hit an intraday high of Rs. 21.15 and intraday low of 20.5. The net turnover during the day was Rs. 2160170.


Source: Equity Bulls

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